Melbourne Main Street Inc

Analysis

Melbourne Main Street Inc is a registered charity in United States, based in Melbourne, FL. It received its IRS tax-exemption ruling in May 2004, 22 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Melbourne Main Street Inc reported income of $333k and spending of $332k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $110k to $333k (+201%), an average of +32% a year. The sharpest change came in the year to December 2020, when income rose by 69%. Over the whole period it spent 114% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Melbourne Main Street Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 66th percentile within FL. Charities of a similar size with the same main cause include Downtown PKB Inc ($333k), Replenish Foundation ($333k) and Washington Heights and Inwood Development Corporation ($333k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 9.1% of the total. Compensation of current officers, directors and key employees was $119k (36% of expenses). Other salaries and wages came to $75k. At year end it held assets of $105k against liabilities of $20k, net assets of $85k. It reported 4 employees.